What is happening at Robinhood? is PIP introduction related to stock tanking?

Gemini
uB6PaM

Go to company page Gemini

uB6PaM
Jan 22 10 Comments

I saw that RH is implementing PIP: https://www.teamblind.com/post/Robinhoods-just-announced-PIP-is-a-company-principle-iX6fLbK7

Also saw that RH founders are no longer billionaires: https://www.forbes.com/sites/sergeiklebnikov/2022/01/19/robinhoods-struggles-continue-its-cofounders-are-no-longer-billionaires-shares-down-60-since-ipo

Are these related?

AMZN is famous for PIP but I noticed that even though Google is known for rest and vest, GCP is not like that since they need to compete with AWS. Will PIP boost $HOOD stock performance or is RH not in a place where employees will tolerate it from them? Will RH make it through this or will PIP make it worse for the company?

Does RH need to reduce headcount?

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  • Got rejected from Robinhood when stock was at $30, recruiter said it was super close but not to feel bad because Robinhood was one of the hardest companies to get into. Thank you Jesus for watching over me
    Jan 22 3
    • New / Eng
      fwnJ68

      New Eng

      BIO
      Senior Software Engineer (iOS)
       fwnJ68
      the way it’s going it will soon be a penny stock. look at wish.
      p.s i’m down 48% 😞
      Jan 22
    • you glorious son of beach, an angel got it's wings cuz of you
      Jan 23
  • Robinhood is executing a plan to artificially reduce staffing numbers by forcing undesirable (not necessarily bad) employees on to PIPs. This has been happening for a while as management has been driven to meet certain performance quotas that failed to reward employees even if they were doing well—because only a certain number of high ratings could be given, and favoritism was and remains rampant.

    What this means is that anyone who joins RH right now will be entering an environment of toxicity, low morale, exceptional bias, and deficient leadership.

    Please stay away.

    Signed,

    A RH “OG” (pre-IPO, pre-GME employee) who truly believed in the company’s vision before things blew up
    Jan 22 2
  • Roblox
    woQi74

    Go to company page Roblox

    woQi74
    The CEO was total dick during GME fiasco. What do you expect from that kind of CEO?
    Jan 22 0
  • move all my money out since gme. dont trust this company
    Jan 22 0
  • Smoke before explosion
    Jan 25 0